Sentry Investments adjusts annual mutual fund distribution rates and changes fund names for select mandates
Marketwired
TORONTO, ON--(Marketwired - December 14, 2015) - Following a comprehensive review of its mutual fund lineup, the manager, Sentry Investments Inc. ("Sentry"), today announced adjustments to the annual distribution rates for 10 mutual funds (7 mandates) and changes to 15 mutual fund names (11 mandates). The goal of the distribution changes is to ensure consistent and sustainable cash flow for investors, while the name changes were made in order to more clearly reflect the funds' objectives, strategies and underlying exposures.
Changes to annual distribution rates There will be distribution rate increases for three mandates and reductions for four. The changes to the distribution rates will take effect on or about January 29, 2016, and the exact distribution amounts will be determined and announced on or about January 8, 2016. Below are the new target rates and estimated distributions based on each fund's respective net asset value (NAV) at the end of November 2015. These changes are the result of Sentry's annual review of distribution rates.
Sentry has also launched new 8% fixed-rate fund series for Sentry Growth and Income Fund, and Sentry REIT Fund/Class for those still seeking a higher fixed distribution amount. Investors may choose to switch to an appropriate new series before January 29, 2016. Switches between series of the same mutual fund will not result in a taxable event.
Fund names
Previous rate (fund / class)
New annual target rate (%) for 2016
Estimated monthly distribution ($ per unit) Series A* (fund / class)
New 8% fixed-rate series
Increasing
Sentry Global Growth and Income Fund / Class
2.30% / 2.33%
3%
$0.033 / $0.032
Sentry U.S. Growth and Income Fund / Class
1.81% / 1.96%
3%
$0.049 / $0.045
Sentry Alternative Asset Income Fund
4.69%
6%
$0.048
Decreasing
Sentry Growth and Income Fund
8.36%
4%
$0.032
T8, FT8, P8, PF8, O8
Sentry Diversified Income Fund**
6.50%
5%
$0.020
Sentry REIT Fund / Class**
8.59% / 8.36%
6%
$0.058 / $0.050
T8, FT8, P8, PF8, O8
Sentry Energy Growth and Income Fund**
12.57%
5%
$0.018
*Based on NAVs at the end of November 2015. **The names of these Funds have been changed. Please refer to the table below.
Changes to fund names Effective immediately, Sentry has changed the names of 15 funds (11 mandates). There will be no change to the respective objective, strategies or the way in which the portfolio managers manage these funds. Below is a complete list of the funds that have had their names changed.
Former fund name
New fund name
Sentry Tactical Bond Fund / Class
Sentry Global High Yield Bond Fund / Class
Sentry Enhanced Corporate Bond Fund / Class
Sentry Corporate Bond Fund / Class
Sentry Diversified Income Fund
Sentry All Cap Income Fund
Sentry Infrastructure Fund
Sentry Global Infrastructure Fund
Sentry REIT Fund / Class
Sentry Global REIT Fund / Class
Sentry Energy Growth and Income Fund
Sentry Energy Fund
Sentry Precious Metals Growth Fund / Class
Sentry Precious Metals Fund / Class
Sentry Income Advantage Fund
Sentry Conservative Monthly Income Fund
Sentry U.S. Balanced Income Fund
Sentry U.S. Monthly Income Fund
Sentry Global Balanced Income Fund
Sentry Global Monthly Income Fund
Sentry Income Portfolio
Sentry Balanced Income Portfolio
For more information, please contact Sentry Client Services at 1-888-698-5553.
SENTRY INVESTMENTS INC. Sentry Investments was founded in 1997 and is one of Canada's fastest-growing independent asset management companies. Sentry manages over $18 billion in assets on behalf of more than 500,000 Canadian investors. Sentry offers a diverse range of award-winning investment products, available through financial advisors, including domestic and global mutual funds and separately managed accounts.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent they relate to Sentry or the Funds. The forward-looking statements are not historical facts but reflect Sentry's current expectations regarding future results or events including, but not limited to, the effective date of any distribution rate change and the exact amount of any monthly distribution in respect of a fund. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements. Sentry undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of the funds and the Sentry Group of Funds, please visit their respective profiles at www.sedar.com.
Sentry Investments Inc. Commerce Court West 199 Bay Street, Suite 2700 P.O. Box 108 Toronto, ON M5L 1E2
